CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by KP Management LLC

KP Management LLC reduced its position in CoStar Group, Inc. (NASDAQ:CSGP) by 41.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,500 shares of the technology company’s stock after selling 16,000 shares during the quarter. KP Management LLC’s holdings in CoStar Group were worth $1,668,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of CoStar Group during the first quarter worth $31,000. Riverview Trust Co purchased a new stake in CoStar Group during the 1st quarter valued at about $35,000. RiverPark Advisors LLC acquired a new stake in CoStar Group in the 1st quarter valued at about $37,000. Connectus Wealth LLC lifted its stake in CoStar Group by 915.0% in the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth approximately $49,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Down 1.0 %

CoStar Group stock opened at $74.65 on Wednesday. The company has a market capitalization of $30.59 billion, a PE ratio of 102.26 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The firm has a 50 day moving average price of $76.29 and a 200 day moving average price of $81.25.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a research note on Friday, September 27th. Needham & Company LLC reissued a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a report on Tuesday, September 17th. Bank of America cut their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.